Skye Bioscience, Inc. (SKYE)
NASDAQ:SKYE
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Skye Bioscience
(NASDAQ:SKYE)
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Rating:42Neutral
Price Target:
$0.84
▲(5.82% Upside)
Action:Reiterated
Date:05/16/26
Score is held down primarily by weak financial performance (no revenue, large losses, heavy cash burn, and sharply reduced equity base). Technicals are mixed with only modest momentum and a longer-term downtrend, while valuation signals are constrained by negative earnings. Corporate events add downside risk due to Nasdaq compliance pressures.
Positive Factors
Low leverage
Minimal debt reduces refinancing and interest risk for a clinical-stage biotech, preserving financial flexibility to fund trials or negotiate partnerships. A low leverage profile gives management more strategic options for capital raises without heavy interest burdens.
Negative Factors
Heavy cash burn
Sustained operating cash outflows at this magnitude rapidly consume liquidity and shorten runway for a pre-revenue biotech. Persistent negative free cash flow increases likelihood of dilutive financings or program delays, pressuring long-term ability to advance clinical candidates.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Minimal debt reduces refinancing and interest risk for a clinical-stage biotech, preserving financial flexibility to fund trials or negotiate partnerships. A low leverage profile gives management more strategic options for capital raises without heavy interest burdens.
Read all positive factors
Skye Bioscience (SKYE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.59M
Dividend YieldN/A
Average Volume (3M)199.13K
Price to Earnings (P/E)―
Beta (1Y)3.24
Revenue GrowthN/A
EPS Growth-74.39%
CountryUS
Employees16
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.44
Shares Outstanding35,143,723
10 Day Avg. Volume163,031
30 Day Avg. Volume199,132
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.48
Price to Sales (P/S)0.00
P/FCF Ratio-0.69
Enterprise Value/Market Cap0.67
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-111.31
Enterprise Value/Ebitda-0.34
Forecast
1Y Price Target
$9.50Price Target Upside1102.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.96
Revenue Forecast (FY)N/A
Skye Bioscience Business Overview & Revenue Model
Company Description
Skye Bioscience, Inc., a biopharmaceutical company, discovers, develops, and commercializes cannabinoid-based molecules for the treatment of infectious diseases. The company's lead product candidate is SBI-100, which is in Phase I trials for the t...
How the Company Makes Money
null...
Skye Bioscience Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong financial health and promising Phase 2a study results highlighting the potential of Nimazumab in combination with semaglutide. However, increased R&D expenses, a larger net loss, concerns about monotherapy efficacy, and limited study enrollment were notable challenges.Positive Updates
Strong Financial Position
Skye Bioscience ended the third quarter with cash and cash equivalents totaling $35.3 million, which is expected to fund operations and key clinical milestones into 2027.
Negative Updates
Increased R&D Expenses
R&D expenses for Q3 2025 increased to $9.4 million from $4.9 million in Q3 2024, primarily due to contract manufacturing and clinical trial costs.
Read all updates
Q3-2025 Updates
Positive
Negative
Strong Financial Position
Skye Bioscience ended the third quarter with cash and cash equivalents totaling $35.3 million, which is expected to fund operations and key clinical milestones into 2027.
Read all positive updates
Company Guidance
In the Skye Bioscience, Inc. third-quarter 2025 earnings call, the company provided detailed guidance on its financial and clinical development milestones. Key financial highlights included ending the quarter with $35.3 million in cash and equivalents, with expectations to fund operations into 2027. R&D expenses increased to $9.4 million from $4.9 million in the previous year due to ongoing clinical trials, including those for Nolasimab and Nimazumab. Notably, the company reported a net loss of $12.8 million, attributed partly to non-cash share-based compensation expenses. Clinical updates focused on the promising results from the Phase 2a CBEYOND study, showing a 3% additional weight loss with Nimazumab plus semaglutide compared to semaglutide alone, with a significant p-value of 0.0372. The study also demonstrated improvements in lean to fat mass ratio and reduced waist circumference, with retention strong in the extension study. The company is advancing Nimazumab's dose concentration strategy and plans to evaluate higher doses in future studies, keeping scalability and patient convenience in focus.Skye Bioscience Financial Statement Overview
Summary
Income Statement
6
Very Negative
Balance Sheet
38
Negative
Cash Flow
7
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -172.89K | -723.35K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -56.77M | -57.44M | -25.29M | -36.62M | -18.70M | -7.72M |
| Net Income | -57.33M | -55.92M | -26.57M | -37.64M | -19.48M | -8.52M |
Balance Sheet | ||||||
| Total Assets | 19.42M | 28.31M | 72.76M | 11.94M | 9.11M | 9.86M |
| Cash, Cash Equivalents and Short-Term Investments | 17.11M | 25.74M | 68.42M | 1.26M | 1.24M | 8.98M |
| Total Debt | 60.98K | 273.65K | 455.59K | 4.62M | 1.98M | 2.14M |
| Total Liabilities | 10.40M | 8.29M | 4.61M | 14.07M | 12.12M | 3.99M |
| Stockholders Equity | 9.01M | 20.02M | 68.15M | -2.13M | -3.01M | 5.86M |
Cash Flow | ||||||
| Free Cash Flow | -42.43M | -43.07M | -26.84M | -13.96M | -12.77M | -6.57M |
| Operating Cash Flow | -42.43M | -43.06M | -25.24M | -13.95M | -12.74M | -6.47M |
| Investing Cash Flow | 4.20M | -19.50M | -245.62K | 6.60M | 5.21M | -90.87K |
| Financing Cash Flow | -41.95K | 29.57K | 83.56M | 16.44M | -208.79K | 13.08M |
Skye Bioscience Technical Analysis
Negative
0.79
Price Trends
0.77
Positive
0.81
Negative
1.63
Negative
Market Momentum
<0.01
Positive
45.27
Neutral
30.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SKYE, the sentiment is Negative. The current price of 0.79 is below the 20-day moving average (MA) of 0.88, above the 50-day MA of 0.77, and below the 200-day MA of 1.63, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.27 is Neutral, neither overbought nor oversold. The STOCH value of 30.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SKYE.
Skye Bioscience Risk Analysis
Skye Bioscience disclosed 82 risk factors in its most recent earnings report. Skye Bioscience reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Skye Bioscience Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $41.21M | -1.39 | -170.86% | ― | -100.00% | 13.12% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $35.20M | -0.62 | 75.79% | ― | -63.28% | 54.23% | |
46 Neutral | $35.50M | -1.16 | -0.97% | ― | ― | 21.67% | |
45 Neutral | $39.22M | -1.41 | -218.67% | ― | ― | 48.96% | |
42 Neutral | $28.59M | -0.49 | -217.27% | ― | ― | -74.39% | |
39 Underperform | $27.54M | ― | 293.07% | ― | ― | 86.28% |
* Healthcare Sector Average
SKYE
Skye Bioscience
0.78
-1.19
-60.56%
ATNM
Actinium Pharmaceuticals
1.17
-0.66
-36.07%
OTLK
Outlook Therapeutics
0.23
-1.47
-86.53%
BTAI
Bioxcel Therapeutics
1.13
-0.29
-20.42%
INMB
Inmune Bio
1.49
-6.19
-80.60%
LTRN
Lantern Pharma
3.00
-0.48
-13.79%
Skye Bioscience Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
Skye Bioscience Faces Nasdaq Compliance Risk Over Equity
Negative
May 15, 2026
On May 13, 2026, Skye Bioscience disclosed that Nasdaq notified the company it was out of compliance with the Nasdaq Global Market’s minimum $10 million stockholders’ equity requirement, after reporting $9,011,804 in equity as of March...
Delistings and Listing ChangesRegulatory Filings and Compliance
Skye Bioscience Faces Nasdaq Listing Compliance Deficiency Notice
Negative
Mar 19, 2026
On March 17, 2026, Skye Bioscience disclosed that it received a deficiency notice from Nasdaq after its common stock traded below the $1.00 minimum bid price for 30 consecutive business days, putting its Nasdaq Global Market listing at risk. The n...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.